Indemnity bond
Reya
(Querist) 25 January 2018
This query is : Resolved
I have applied for letter of administration .court has preferred LA on the basis of producing Indemnity bond of xyz value. Please clarify the condotions in the indemnity bond which reads as � if the said Mr. x , do and shall, within six month from the grant to him of letter of administration of the estate of late Mr Y , deceased or such further time as said court may allow, do make or cause to be made a full and true inventory containing a full and true estimate of the property , assets and credits of the estate which have or shall come in his hands, possessions or to his knowledge in course of administration and also all debts and outstanding due and payable by the estate and exhibit the same in the said court and Do and shall, within one year from the said grant or such further time as the court may allow , exhibit an account of the estate of the said deceased, showing the assets which have come to his hands and the manner in which they have been applied , appropriated or disposed of and do and shall well and truly administer the property, assets and credits of the deceased according to the law and all and every the rest and residue of the said property, credits and assets which shall be found remaining and shall assent to and deliver and pay to such persons as shall be lawfully entitled thereto then and in such event the above written bond and obligations shall be void and of no effect , otherwise the same shall remain in full force and virtue �
Plz explain in simple terms? Can I apply for mutation?Can I sell my property after mutation? What obligations I have regarding the said property?
Reya
(Querist) 25 January 2018
Indemnity bond
Reya
(Querist) 25 January 2018
Indemnity bond